Saudi Arabia could become global minerals hub in clean energy race, says expert

Saudi Arabia could be playing a major global role in the supply of precious minerals needed to power the transition to green energy as part of the kingdom’s efforts to reach the net zero carbon emissions goal, said Payne Institute for Public Policy at the Colorado School for Mines in US ahead of the Future […]

Saudi Aramco’s Luberef to start trading this week

Saudi oil giant Aramco’s base oil supplier Luberef will debut on the Saudi Stock Exchange (Tadawul) this week. The company will list and trade its shares on the main market on Wednesday, December 28, with the symbol 2223, Tadawul said. Luberef will have a daily price fluctuation limit of 30% during the first three days […]

Saudi: Bupa Arabia’s shareholders approve 25% capital raise

    The shareholders of Bupa Arabia for Cooperative Insurance Company agreed to increase the capital by 25% to SAR 1.50 billion from SAR 1.20 billion. The Tadawul-listed firm will capitalise SAR 300 million from the retained earnings account by granting one bonus share for every four owned shares, according to a bourse disclosure. Meanwhile, […]

Saudi Aramco set to enter Kenya with Valvoline acquisition

Oil giant Saudi Aramco is set to enter the Kenyan market by acquiring US motor oil and lubricants group Valvoline, Business Daily reported. The Competition Authority of Kenya (CAK) has given its approval to Aramco Overseas Company, the investment arm of Saudi Aramco, to acquire the Kenyan operations of VGP Holdings as part of the global […]

Saudi: Edarat Communication mulls 100% capital raise via bonus shares

The board of Edarat Communication and Information Technology Company recommended a 100% capital increase to SAR 12.60 million from SAR 6.30 million, according to a bourse filing. In order to carry out the capital hike transaction, the company will capitalise SAR 6.30 million from the reserves and retained earnings accounts by granting one bonus share […]

Saudi Arabia, Japan sign 15 agreements to boost investments

Saudi Japanese Investment Forum witnessed on Monday the signing of 15 agreements between the two countries, according to Minister of Investment Khalid Al-Falih. The agreements included memorandums of understanding in the fields of artificial intelligence (AI), sports, finance, banking, polyester recycling, agriculture, food, industry, manufacturing, trade, energy, digitization, smart cities and personalization. On the sidelines […]

Saudi developer Ajdan inks villa development agreement with ROSHN

Saudi Arabia-based Ajdan, the developer behind the Ajdan Waterfront in the Kingdom’s Eastern Province, has signed an agreement with the Public Investment Fund-backed giga-project developer ROSHN to sub-develop over 270 villas within SEDRA mixed-used community in Northeast Riyadh. The agreement covers the development of a total of 80,754 square metres of land within Sedra’s prime […]

Saudi’s Rua Al Madinah Holding signs agreements for hotels, support offices in Madinah

Rua Al Madinah Holding, a wholly owned unit of Saudi’s Public Investment Fund (PIF), and developer of Rua Al Madinah project in Madinah, announced on Tuesday that it has signed five major agreements on the side lines of Medina Expo (Medex 2022). The new agreements encompass the design of several hotels and the Islamic Civilization […]

Saudi: SASCO to pay $7.97mln dividends for Q3-22

  The board of Saudi Automotive Services Company (SASCO) decided to distribute cash dividends worth SAR 30 million, representing 5% of the capital, for the third quarter (Q3) of 2022. SASCO will disburse SAR 0.50 per share for 60 million eligible shares, according to a bourse disclosure. Meanwhile, the eligibility date for the cash dividends […]

Saudi: CMA nods to public offering of 2 Saudi funds

The Capital Market Authority (CMA) approved the public offerings of the GIB MENA ESG Equity Fund and Albilad Sukuk Fund by GIB Capital Company and Albilad Investment Company (Albilad Capital), respectively. The two approvals were issued on 18 December 2022, according to a bourse filing. Founded in April 2008, GIB Capital is a wholly-owned subsidiary […]